1. Field of Invention
The present invention relates to applied cryptography and more specifically, to digital certificates for identifying and authenticating abstract identities of persons, entities, and electronic devices. Further, this invention leverages these basic building blocks to address architectural designs of large distributed systems.
2. Description of Related Art
Blockchain systems are global state systems wherein the global state is stored across a distributed number of devices. Examples are networks such as Bitcoin, Ripple, Namecoin, among others. A combination of public/private key cryptography and hash chains provides a mechanism to store arbitrary secure states as a single ledger (i.e., the blockchain) held at all distributed nodes. Nodes update their local state based on “proof of work” hashing algorithms applied to the system as a whole. These systems are interesting in that they provide a secure mechanism for establishing shared common ground across many devices. However, these systems suffer from several intractable problems, including lack of credential renewal, excess computational complexity, and exceptional state storage requirements. Using the inventive techniques taught herein, these weaknesses can be eliminated.